Reflections on Phishing for Phools – The Economics of Manipulation and Deception
Abstract: Nobel Prize winning economists Akerlof and Shiller’s phishing for phools explains the economics behind mass deception and manipulation in market economies. While “phishing” is commonly known as a form of internet fraught, their book ‘takes a new, broader meaning, i.e. getting people to do...
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| Format: | Article |
| Language: | English |
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Paderborn University: Media Systems and Media Organisation Research Group
2016-04-01
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| Series: | tripleC: Communication, Capitalism & Critique |
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| Online Access: | https://www.triple-c.at/index.php/tripleC/article/view/751 |
| _version_ | 1797713863267844096 |
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| author | Thomas Klikauer |
| author_facet | Thomas Klikauer |
| author_sort | Thomas Klikauer |
| collection | DOAJ |
| description | Abstract: Nobel Prize winning economists Akerlof and Shiller’s phishing for phools explains the economics behind mass deception and manipulation in market economies. While “phishing” is commonly known as a form of internet fraught, their book ‘takes a new, broader meaning, i.e. getting people to do things that are in the interest of the phisherman, but not in the interest of the target. A phool is someone who, for whatever reason, is successfully phished. These are emotional phools (feelings override common sense) and information phools (people act on information that is intentionally crafted to mislead them). Divided into “unpaid bills and financial crash”, “phishing in many contexts”, and “general lessons”, the book uses rafts of examples from economics, the media, and advertising to substantiate their claim. While it avoids linking their findings to capitalism, the book contains a few helpful hints when seeking to avoid being “phished as a phool”. In the end, and despite the economic analysis of the two Nobel Prize winners, the more illuminating book on the subject remains Lindstrom’s “Buyology”. |
| first_indexed | 2024-03-12T07:43:09Z |
| format | Article |
| id | doaj.art-0008a9b66c26460b9efe331ce6404d8d |
| institution | Directory Open Access Journal |
| issn | 1726-670X 1726-670X |
| language | English |
| last_indexed | 2024-03-12T07:43:09Z |
| publishDate | 2016-04-01 |
| publisher | Paderborn University: Media Systems and Media Organisation Research Group |
| record_format | Article |
| series | tripleC: Communication, Capitalism & Critique |
| spelling | doaj.art-0008a9b66c26460b9efe331ce6404d8d2023-09-02T21:08:59ZengPaderborn University: Media Systems and Media Organisation Research GrouptripleC: Communication, Capitalism & Critique1726-670X1726-670X2016-04-01141260–264260–26410.31269/triplec.v14i1.751751Reflections on Phishing for Phools – The Economics of Manipulation and DeceptionThomas Klikauer0University of Western SydneyAbstract: Nobel Prize winning economists Akerlof and Shiller’s phishing for phools explains the economics behind mass deception and manipulation in market economies. While “phishing” is commonly known as a form of internet fraught, their book ‘takes a new, broader meaning, i.e. getting people to do things that are in the interest of the phisherman, but not in the interest of the target. A phool is someone who, for whatever reason, is successfully phished. These are emotional phools (feelings override common sense) and information phools (people act on information that is intentionally crafted to mislead them). Divided into “unpaid bills and financial crash”, “phishing in many contexts”, and “general lessons”, the book uses rafts of examples from economics, the media, and advertising to substantiate their claim. While it avoids linking their findings to capitalism, the book contains a few helpful hints when seeking to avoid being “phished as a phool”. In the end, and despite the economic analysis of the two Nobel Prize winners, the more illuminating book on the subject remains Lindstrom’s “Buyology”.https://www.triple-c.at/index.php/tripleC/article/view/751cultural industrymass deceptioneconomicsmanipulationphishingphoolsadvertisingcapitalism |
| spellingShingle | Thomas Klikauer Reflections on Phishing for Phools – The Economics of Manipulation and Deception tripleC: Communication, Capitalism & Critique cultural industry mass deception economics manipulation phishing phools advertising capitalism |
| title | Reflections on Phishing for Phools – The Economics of Manipulation and Deception |
| title_full | Reflections on Phishing for Phools – The Economics of Manipulation and Deception |
| title_fullStr | Reflections on Phishing for Phools – The Economics of Manipulation and Deception |
| title_full_unstemmed | Reflections on Phishing for Phools – The Economics of Manipulation and Deception |
| title_short | Reflections on Phishing for Phools – The Economics of Manipulation and Deception |
| title_sort | reflections on phishing for phools the economics of manipulation and deception |
| topic | cultural industry mass deception economics manipulation phishing phools advertising capitalism |
| url | https://www.triple-c.at/index.php/tripleC/article/view/751 |
| work_keys_str_mv | AT thomasklikauer reflectionsonphishingforphoolstheeconomicsofmanipulationanddeception |